Lawyers Ditch Ken Sharpe’s VFEX Listed WestProp

Renowned law firm Scanlen and Holderness Legal Practitioners have announced that they are renouncing agency for beleaguered businessman Kenneth Raydon Sharpe’s companies and associates.

The reasons behind Scanlen and Holderness Legal Practitioners’ renunciation of agency remain unclear.

In a notice of renunciation of agency addressed to the High Court of Zimbabwe Registrar and lawyers Mutumbwa Mugabe and Partners, who were representing the applicant Fairclot Investments Private Limited, Scanlen and Holderness Legal Practitioners made their position clear.

“TAKE NOTICE THAT Messrs Scanlen and Holderness Legal Practitioners hereby renounce agency on behalf of 1st— 6th respondents 1st — 6th respondents’ last known address is number 3 Fairbridge Road, Belgravia, Harare,” the notice read.

The six respondents in question are Augur Investments, Doorex Properties (Pvt) Ltd, West Properties Private Limited, Kenneth R Sharpe, Tatiana Aleshina and Simbarashe Kadye. They are at the center of a case numbered HC3828/22, which has been a major talking point in legal circles in the country.

The abandonment comes barely a week after a High Court judge Justice Nyaradzo Munangati declared the uplifting of judicial attachment on stand 654 Pomona Township which (accounted for over 50% of WestProp’s portfolio on the Victoria Falls Stock Exchange) void while directing the property be advertised for sale.

Ken Sharpe’s company Augur Investments entered into a contract agreement with Fairclot Investments trading as Truck and Construction Private Limited (T&C Construction) for the construction of the Airport Road and was offered part of Stand Number 654 Pomona Township as payment.

After completing the construction of Airport Road, Fairclot Investments was set to get a payment of US$4.8 Million from Augur Investments.

Following the promulgation of the controversial Statutory Instrument 33 of 2019 which declared that debts owed in United States dollars could be settled in local RTGS at a rate of 1:1, Augur Investments transferred ZWL$4.8 million and ZWL$1 078 040.21 as the principal and interest to Fairclot Investments resulting in the Sheriff of the High Court releasing title deeds of Stand Number 654 Pomona Township which was being held as judicial attachment.

Justice Munangati ruled that the decision of the Sheriff of the High Court to uplift the judicial attachment on Stand 654 Pomona Township which was held under Deed of Grant 2884/10 be set aside.

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